SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION (EIN 56-0405464)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-06-18
- IRS object ID
- 201301699349300410
- Schema version
- 2012v2.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-06-18T10:26:02-05:00 | Timestamp |
| Tax Period End Date | 2012-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 560747981 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DIXON HUGHES GOODMAN LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 110 EXCHANGE STREET SUITE G | AddressLine1 |
| City | DANVILLE | City |
| State | VA | State |
| ZIP Code | 24541 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 560405464 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTH RIVER ELECTRIC MEMBERSHIP CORPORATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | SOUT | NameControl |
| Phone | 9108928071 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 17494 US 421 SOUTH | AddressLine1 |
| City | DUNN | City |
| State | NC | State |
| ZIP Code | 283350931 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | BUDDY G CREED | Name |
| Title | CEO | Title |
| Phone | 9108928071 | Phone |
| Date Signed | 2013-06-06 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | WILLIAM J SETLIFF | Name |
| PTIN | P00169735 | PTIN |
| Phone | 4347925334 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | BUDDY G CREED | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 17494 US 421 SOUTH | AddressLine1 |
| City | DUNN | City |
| State | NC | State |
| ZIP Code | 283350931 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 95224919 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.SREMC.COM | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1940 | YearFormation |
| State Legal Domicile | NC | StateLegalDomicile |
| Activity Or Mission Description | SALE AND DISTRIBUTION OF ELECTRICITY AND ELECTRIC SERVICES TO MEMBERS | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 9 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 9 | NbrIndependentVotingMembers |
| Total Nbr Employees | 110 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 15958 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 90843074 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 94526786 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 375793 | InvestmentIncomePriorYear |
| Investment Income Current Year | 447504 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 2059417 | OtherRevenuePriorYear |
| Other Revenue Current Year | 202052 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 93278284 | TotalRevenuePriorYear |
| Total Revenue Current Year | 95176342 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 2606575 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 2799877 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 1707339 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 1732030 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 86767389 | OtherExpensePriorYear |
| Other Expenses Current Year | 87110714 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 91081303 | TotalExpensesPriorYear |
| Total Expenses Current Year | 91642621 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 2196981 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 3533721 | RevenuesLessExpensesCY |
| Total Assets BOY | 184295956 | TotalAssetsBOY |
| Total Assets EOY | 194500273 | TotalAssetsEOY |
| Total Liabilities BOY | 119549390 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 124176680 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 64746566 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 70323593 | NetAssetsOrFundBalancesEOY |
| Mission Description | SALE AND DISTRIBUTION OF ELECTRICITY AND ELECTRIC SERVICES TO MEMBERS | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | SALE AND DISTRIBUTION OF ELECTRICITY AND ELECTRIC SERVICES TO MEMBERS | Description |
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 1 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 1 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 1 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 55 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 110 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Gross Income From Members | 97391405 | GrossIncomeFromMembers |
| Gross Income Other Sources | 647677 | GrossIncomeOtherSources |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 9 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 9 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 1 | LocalChapters |
| Policies Reference Chapters | 1 | PoliciesReferenceChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 1 | InvestmentInJointVenture |
| Written Policy Or Procedure | 1 | WrittenPolicyOrProcedure |
| States Where Copy Of Return Is Filed | NC | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BUDDY CREED | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 9108928071 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 17494 US 421 SOUTH | AddressLine1 |
| City | DUNN | City |
| State | NC | State |
| ZIP Code | 28334 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (17 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| KELLY HARRINGTON | |||||||
| VICE-PRESIDENT/DIRECTOR | 6.00 | X | 27290 | 0 | 0 | ||
| FRANCIS CLIFTON | |||||||
| PRESIDENT/DIRECTOR | 4.00 | X | 25788 | 0 | 0 | ||
| CARLTON MARTIN | |||||||
| TREASURER/DIRECTOR | 3.00 | X | 25188 | 0 | 0 | ||
| MARY TALLEY | |||||||
| DIRECTOR | 2.00 | X | 9667 | 0 | 0 | ||
| WILLIAM E TEW JR | |||||||
| SECRETARY/DIRECTOR | 3.00 | X | 25590 | 0 | 0 | ||
| DORCAS FISCHER | |||||||
| DIRECTOR | 2.00 | X | 1406 | 0 | 0 | ||
| GLENN RIDDLE | |||||||
| DIRECTOR | 2.00 | X | 1210 | 0 | 0 | ||
| BRENT JACKSON | |||||||
| DIRECTOR | 1.00 | X | 8130 | 0 | 0 | ||
| GEORGE WILLIAMS | |||||||
| DIRECTOR | 3.00 | X | 2410 | 0 | 0 | ||
| LAURIE B CHANCY | |||||||
| DIRECTOR | 2.00 | X | 1300 | 0 | 0 | ||
| BUDDY G CREED | |||||||
| EXEC. VICE PRESIDENT & CEO | 60.00 | 413023 | 0 | 116956 | X | ||
| ANDREW A HARDY | |||||||
| MANAGER OF FINANCE AND ACC | 50.00 | 98134 | 0 | 38838 | X | ||
| JIMMY ALLEN | |||||||
| ASSISTANT TO THE CEO | 50.00 | 113017 | 0 | 95741 | X | ||
| JANIE H MCPHAIL | |||||||
| VICE-PRESIDENT CORPORATE SERVICES | 50.00 | 102193 | 0 | 149686 | X | ||
| DAVID L LARSON JR | |||||||
| SUPERVISOR OF DISTRICT LIN | 48.00 | 102840 | 0 | 52876 | X | ||
| J TIMOTHY PEEDE | |||||||
| VICE-PRESIDENT INFORMATION TECHNOLOGIES | 50.00 | 107794 | 0 | 52345 | X | ||
| KEITH A REID | |||||||
| MANAGER OF ENGINEERING | 50.00 | 113092 | 0 | 47516 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1178072 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 553958 | TotalOtherCompensation |
| Number Individuals GT100 K | 8 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| LEE ELECTRICAL CONSTRUCTION INC | |||||
| PO BOX 55 | ABERDEEN | NC | 28315 | LINE CONSTRUCTION | 2187850 |
| DAVIS H ELLIOTT COMPANY INC | |||||
| 673 BLUE SKY PARKWAY | LEXINGTON | KY | 40509 | LINE CONSTRUCTION | 1025812 |
| ROWE'S TREE COMPANY | |||||
| 6640 MALPASS CORNER ROAD | CURRIE | NC | 28435 | RIGHT OF WAY MAINTENANCE | 792120 |
| ASPLUNDH TREE EXPERT CO | |||||
| PO BOX 532729 | ATLANTA | GA | 30353 | RIGHT OF WAY MAINTENANCE | 744284 |
| ENERCO ENERGY SERVICES INC | |||||
| PO BOX 4527 | SALISBURY | NC | 28145 | MAINTENANCE | 424896 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 9 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | ExclusionExclusionAmount |
|---|---|---|---|---|
| SALE OF ELECTRICITY AN | 221000 | 92095593 | 92095593 | |
| PATRONAGE ALLOCATIONS | 221000 | 1451052 | 1451052 | |
| CONTRIBUTIONS IN AID | 221000 | 815815 | 815815 | |
| POLE RENTAL INCOME | 221000 | 164326 | $164,326 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 94526786 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 415146 | TotalRevenueColumn |
| Exclusion | $415,146 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 40740 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 24782 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 15958 | Real |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 15958 | TotalRevenueColumn |
| Unrelated Business Revenue | 15958 | UnrelatedBusinessRevenue |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 32358 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 0 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 32358 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 32358 | TotalRevenueColumn |
| Related Or Exempt Function Income | 32358 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | 16617 | GrossSalesOfInventory |
| Cost Of Goods Sold | 23795 | CostOfGoodsSold |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -7178 | TotalRevenueColumn |
| Related Or Exempt Function Income | -7178 | RelatedOrExemptFunctionIncome |
Other Revenue Misc OtherRevenueMisc (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| DISCOUNTS ON CAPITAL CREDITS | 221000 | 204098 | 204098 |
| EQUITY IN SUBSIDIARY | 221000 | -3925 | -3925 |
| LOSS FROM INVESTMENTS | 221000 | -6901 | -6901 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 193272 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 95176342 | TotalRevenueColumn |
| Related Or Exempt Function Income | 94580912 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 15958 | UnrelatedBusinessRevenue |
| Exclusion | $579,472 | ExclusionAmount |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2799877 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 639136 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 538936 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 335827 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 218131 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4729675 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6145281 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| COST OF POWER | 58009403 |
| DISTRIBUTION - MAINTENA | 5369584 |
| TAXES | 2997718 |
| CUSTOMER SERVICE AND IN | 2641178 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7217875 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 91642621 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 594751 | BOY |
| EOY | 620178 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4925978 | BOY |
| EOY | 4464871 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 9898845 | BOY |
| EOY | 10592442 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 647290 | BOY |
| EOY | 540247 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1714931 | BOY |
| EOY | 1661171 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1919992 | BOY |
| EOY | 1811299 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 210071934 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 52360216 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 150465588 | BOY |
| EOY | 157711718 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14128581 | BOY |
| EOY | 17098347 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 184295956 | BOY |
| EOY | 194500273 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7710471 | BOY |
| EOY | 7736096 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 92292656 | BOY |
| EOY | 94497471 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 19546263 | BOY |
| EOY | 21943113 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 119549390 | BOY |
| EOY | 124176680 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 64746566 | BOY |
| EOY | 70323593 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 64746566 | BOY |
| EOY | 70323593 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 184295956 | BOY |
| EOY | 194500273 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 3533721 | ReconcilationRevenueExpenses |
| Reconciliation Unrealized Invest | 3028945 | ReconciliationUnrealizedInvest |
| Reconcilation Other Changes | -985639 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 1 | AuditCommittee |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1667627 | OtherCostOrOtherBasis |
| Book Value | 1667627 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 10415901 | OtherCostOrOtherBasis |
| Depreciation | 3033877 | Depreciation |
| Book Value | 7382024 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 197988406 | OtherCostOrOtherBasis |
| Depreciation | 49326339 | Depreciation |
| Book Value | 148662067 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 157711718 | TotalOfBookValueLandBuildings |
Investments Program Related InvestmentsProgramRelated (3 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| INVESTMENT IN CFC MEDIUM TERM NOTES | 1000000 | C |
| INVESTMENT IN RESTRICTED FUNDS | 540253 | C |
| INVESTMENTS IN ASSOCIATED ORGANIZATIONS | 15558094 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Program Related | 17098347 | TotalOfBookValueProgramRelated |
Other Liabilities OtherLiabilities (4 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| CONSUMER DEPOSITS | $2,582,081 |
| ACCUMULATED POSTRETIREMENT BENEFITS | $14,291,600 |
| DEFERRED COMPENSATION | $540,253 |
| DEFERRED CREDITS | $4,529,179 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 21943113 | TotalOfAmounts |
| Footnote In Part XIII | X | FootnoteInPartXIII |
| Tot Revenue Etc Audited Fincl Stmt | 98205287 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 3028945 | NetUnrealizedGainsInvestments |
| Revenue Not Rptd F990 | 3028945 | RevenueNotRptdF990 |
| Revenue Subtotal | 95176342 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 95176342 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 91642621 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 91642621 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 91642621 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | Identifier |
| Return Reference | PART X, LINE 2: | ReturnReference |
| Explanation | THE CORPORATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF DECEMBER 31, 2012 AND 2011. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | X | IndependentConsultant |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (6 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BUDDY G CREED | ||||||||||||||
| EXEC. VICE PRESIDENT & CEO | 413023 | 0 | 0 | 0 | 0 | 0 | 77217 | 0 | 39739 | 0 | 529979 | 0 | 0 | 0 |
| JIMMY ALLEN | ||||||||||||||
| ASSISTANT TO THE CEO | 113017 | 0 | 0 | 0 | 0 | 0 | 66191 | 0 | 29550 | 0 | 208758 | 0 | 0 | 0 |
| JANIE H MCPHAIL | ||||||||||||||
| VICE-PRESIDENT CORPORATE SERVICES | 102193 | 0 | 0 | 0 | 0 | 0 | 118547 | 0 | 31139 | 0 | 251879 | 0 | 0 | 0 |
| DAVID L LARSON JR | ||||||||||||||
| SUPERVISOR OF DISTRICT LIN | 102840 | 0 | 0 | 0 | 0 | 0 | 23118 | 0 | 29758 | 0 | 155716 | 0 | 0 | 0 |
| J TIMOTHY PEEDE | ||||||||||||||
| VICE-PRESIDENT INFORMATION TECHNOLOG | 107794 | 0 | 0 | 0 | 0 | 0 | 23397 | 0 | 28948 | 0 | 160139 | 0 | 0 | 0 |
| KEITH A REID | ||||||||||||||
| MANAGER OF ENGINEERING | 113092 | 0 | 0 | 0 | 0 | 0 | 16626 | 0 | 30890 | 0 | 160608 | 0 | 0 | 0 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (9 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZATION OPERATES AS A NON-PROFIT COOPERATIVE, WHERE MEMBERSHIP IS COMPRISED OF THOSE INDIVIDUALS AND BUSINESSES THAT USE THE ORGANIZATION'S SERVICES. EACH MEMBER HAS ONE VOTE. | |
| FORM 990, PART VI, SECTION A, LINE 7A | THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERSHIP. | |
| FORM 990, PART VI, SECTION A, LINE 7B | MEMBERS MUST APPROVE A BOARD APPROVED CONSOLIDATION OR MERGER AGREEMENT. | |
| FORM 990, PART VI, SECTION B, LINE 11 | CHIEF FINANCIAL OFFICER ASSIST IN THE PREPARATION OF THE FORM 990 BY PROVIDING REQUIRED DATA AND DOCUMENTATION TO THE INDEPENDENT AUDITORS, WHO PREPARE THE FORM 990 AND RELATED SCHEDULES. ONCE FORM 990 AND RELATED SCHEDULES ARE PREPARED AND FINALIZED, CHIEF FINANCIAL OFFICER REVIEWS AND PROOFS THE FORM 990 AND RELATED SCHEDULES FOR ANY ERRORS. A COPY OF THE 990 IS PRESENTED TO THE BOARD OF DIRECTORS FOR REVIEW BY THE INDEPENDENT AUDITOR BEFORE THE 990 IS FILED WITH THE IRS. | |
| FORM 990, PART VI, SECTION B, LINE 12C | ON AN ANNUAL BASIS, DIRECTORS ARE REQUIRED TO ANSWER, SIGN, AND DATE A QUESTIONNAIRE ENTITLED "QUESTIONS CONCERNING QUALIFICATIONS FOR DIRECTORS". AS PART OF THIS QUESTIONNAIRE, THE DIRECTORS MUST DISCLOSE ANY CONFLICTS OF INTEREST THAT MAY IMPAIR THEIR ABILITY TO REPRESENT AND GOVERN THE COOPERATIVE. | |
| FORM 990, PART VI, SECTION B, LINE 15 | EACH BOARD DIRECTOR COMPLETES AN ANNUAL PERFORMANCE APPRAISAL FORM EVALUATING THE CEO ON HIS JOB PERFORMANCE. THESE APPRAISALS ARE COMBINED AND THE RESULTS, ALONG WITH A LETTER OF RECOMMENDATION FROM OUR WAGE AND SALARY CONSULTANT, ARE PRESENTED TO THE ENTIRE BOARD DURING THE EXECUTIVE SESSION. THE LETTER OF RECOMMENDATION FROM OUR WAGE AND SALARY CONSULTANT SUGGESTS WHAT, IF ANY, SALARY INCREASE SHOULD BE CONSIDERED FOR THE CEO'S POSITION. THE CONSULTANT'S RECOMMENDATIONS ARE BASED ON NATIONAL, STATE, AND REGIONAL WAGE AND SALARY STUDIES FOR CEOS IN COMPARABLE ORGANIZATIONS. AFTER ALL INFORMATION HAS BEEN PRESENTED TO THE ENTIRE BOARD, THE BOARD PRESIDENT ASKS FOR ANY DISCUSSION, COMMENTS, OR RECOMMENDATIONS, WHICH IS FOLLOWED WITH A MOTION, A SECOND TO THE MOTION, AND A VOTE BY ENTIRE BOARD. THE SAME METHODOLOGY IS USED TO CALCULATE THE SALARY INCREASE RECOMMENDATION FOR ALL OTHER EMPLOYEES INCLUDING OTHER OFFICERS, DIRECTORS AND KEY EMPLOYEES. | |
| FORM 990, PART VI, SECTION C, LINE 19 | A COPY OF OUR BYLAWS ARE MADE AVAILABLE TO OUR MEMBERS UPON REQUEST. WE ALSO HAVE COPIES OF OUR BYLAWS AVAILABLE TO OUR MEMBERS AT OUR ANNUAL MEETING. AN ABBREVIATED VERSION OF OUR FINANCIAL STATEMENTS ARE PROVIDED TO OUR MEMBERS ALONG WITH THEIR ANNUAL MEETING REGISTRATION CARD AS PART OF A SPECIAL INSERT IN THE PUBLICATION "CAROLINA COUNTRY". ALL OTHER REQUESTS FOR COPIES OF OR TO REVIEW GOVERNING DOCUMENTS, COMPANY POLICIES, AND FINANCIAL STATEMENTS ARE EVALUATED ON A CASE BY CASE BASIS. | |
| FORM 990, PART XI, LINE 9: | CHANGE IN OTHER EQUITIES 557,643. CONTRIBUTIONS IN AID OF CONSTRUCTION -815,815. DECREASE IN MEMBERSHIPS -2,780. CHANGE IN ACCUMULATED OTHER COMPREHENSIVE INCOME 29,942. CHANGE IN UNALLOCATED PATRONAGE CAPITAL - ESS -754,629. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| NO CHANGES IN CY. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part IV Form990ScheduleRPartIV
Name Of Related Org NameOfRelatedOrg
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUTH RIVER DIVERSIFIED SERVICES INC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 931 | AddressLine1 |
| City | DUNN | City |
| State | NC | State |
| ZIP Code | 28335 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 562049873 | EIN |
| Primary Activity | HOLDING COMPANY | PrimaryActivity |
| Legal Domicile State | NC | LegalDomicileState |
| Direct Controlling Entity NA | N/A | DirectControllingEntityNA |
| Type Of Entity | C | TypeOfEntity |
| Share Of Total Income | 1254 | ShareOfTotalIncome |
| Share Of EOY Assets | 247068 | ShareOfEOYAssets |
| Percentage Ownership | 1.00000 | PercentageOwnership |
| Controlled Org | 1 | ControlledOrg |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Dividends Related Organization | 0 | DividendsRelatedOrganization |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 1 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 1 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |